President Trump recently instituted new tariffs on two allies and one adversary: 25% on goods from Mexico and Canada and 10% on China. Many are concerned that the tariffs will raise prices for U.S.

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The Tariff of 1828 lifted tariff rates from 20-25% up to 50%, leading to the Nullification Crisis of 1832. The McKinley tariffs Trump admires cost the Republicans the House in the 1890 elections ...